BEIJING, Feb 18 (Reuters) - Brent crude oil prices
paused in early trading on Tuesday after gaining in the previous
session following a drone attack on an oil pipeline pumping
station in Russia that reduced flows from Kazakhstan.
Brent crude futures ticked down 7 cents, or 0.09%,
to $75.15 a barrel by 0137 GMT.
U.S. West Texas Intermediate (WTI) crude rose 47
cents to $71.21 a barrel. The WTI contract did not settle at its
normal time on Monday due to the U.S. Presidents' Day holiday.
The drone strike on the Kropotkinskaya station in Russia's
southern Krasnodar region reduced shipments from Kazakhstan to
world markets by Western firms including Chevron ( CVX ) and
Exxon Mobil ( XOM ), operator Caspian Pipeline Consortium said
on Monday.
The Black Sea CPC Blend oil loading plan for February would
remain unchanged, two sources familiar with the plan told
Reuters.
Weak fundamentals also kept the price response muted. BMI
analysts said in a note that they see Brent prices averaging $76
a barrel in 2025, down 5% from the 2024 average, because of
market oversupply, tariffs and trade tensions.
OPEC+ producers are not considering delaying a series of
monthly oil supply increases that is scheduled to begin in
April, according to a Russian state media report.
In December, OPEC had pushed back a plan to begin raising
output to April, due to weak demand and rising supply outside
the group.